LookSmart to Acquire WiseNut

Updated March 12, 2002 10:16 a.m. ET

LookSmart Ltd., San Francisco, agreed to acquire closely held WiseNut Inc. for $9.3 million, or about 4.1 million newly issued shares. LookSmart said WiseNut has developed patent pending search engine technology that combines link analysis with contextual clustering. LookSmart, an Internet directory service, also reiterated its financial guidance for the first quarter and 2002. Company officials weren't immediately available to provide further details. LookSmart's shares closed Monday at $2.37 on the Nasdaq Stock...